Voya Investment Management LLC Sells 129,075 Shares of Old Republic International Co. (NYSE:ORI)

Voya Investment Management LLC trimmed its stake in Old Republic International Co. (NYSE:ORI) by 49.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,524 shares of the insurance provider’s stock after selling 129,075 shares during the period. Voya Investment Management LLC’s holdings in Old Republic International were worth $4,760,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ORI. Norges Bank purchased a new stake in Old Republic International in the fourth quarter worth about $105,581,000. Invesco Ltd. lifted its stake in shares of Old Republic International by 26.4% in the 4th quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider’s stock valued at $85,044,000 after purchasing an additional 490,788 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Old Republic International during the fourth quarter valued at approximately $67,054,000. LSV Asset Management raised its holdings in Old Republic International by 0.6% in the fourth quarter. LSV Asset Management now owns 1,665,707 shares of the insurance provider’s stock worth $60,282,000 after purchasing an additional 9,700 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Old Republic International by 4.7% during the fourth quarter. JPMorgan Chase & Co. now owns 891,112 shares of the insurance provider’s stock valued at $32,249,000 after buying an additional 39,620 shares during the period. Institutional investors own 70.92% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Raymond James set a $42.00 target price on shares of Old Republic International and gave the stock an “outperform” rating in a research report on Monday. StockNews.com raised shares of Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Finally, Piper Sandler set a $42.00 price target on Old Republic International in a research report on Friday, April 25th.

Old Republic International Price Performance

ORI opened at $37.56 on Thursday. The firm has a market cap of $9.28 billion, a PE ratio of 14.28 and a beta of 0.68. The stock has a 50-day moving average price of $37.59 and a 200-day moving average price of $36.80. Old Republic International Co. has a 1 year low of $29.51 and a 1 year high of $39.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.08. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.03 billion. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Sell-side analysts predict that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.09%. This is an increase from Old Republic International’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, March 10th. Old Republic International’s dividend payout ratio (DPR) is currently 47.15%.

Insider Transactions at Old Republic International

In related news, VP Thomas Dare sold 27,457 shares of Old Republic International stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of the sale, the vice president now directly owns 46,556 shares in the company, valued at approximately $1,699,294. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeffrey Lange sold 1,098 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $36.56, for a total transaction of $40,142.88. Following the sale, the senior vice president now directly owns 34,679 shares in the company, valued at approximately $1,267,864.24. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,039 shares of company stock worth $1,580,733 over the last quarter. 1.10% of the stock is currently owned by insiders.

About Old Republic International

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business.